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Today’s Real Estate News 4-14-11

14 Apr

Today’s question: What’s your number one trait that makes a town an appealing place to live?  Employment?  Neighborhoods?  Crime rate?  Civic culture?  Something else?

Today’s news that may be of interest to you:

Big Banks Get Foreclosure Orders
The Wall Street Journal | April 14, 2011
U.S. regulators hit the nation’s largest banks with a first round of sweeping penalties for improper home-foreclosure practices, issuing detailed orders to revamp the way they deal with troubled borrowers.

Credit Raters Triggered Financial Crisis: Panel
Reuters | April 13, 2011
Moody’s Corp and Standard and Poor’s triggered the worst financial crisis in decades when they were forced to downgrade the inflated ratings they slapped on complex mortgage-backed securities, a U.S. congressional report concluded on Wednesday.

Senate Report on Financial Crisis Rips Regulators, Banks, Investment Firms
HousingWire | April 13, 2011
A new report compiled by lawmakers on the financial crisis leaves no stone unturned and blatantly criticizes the Office of Thrift Supervision for its “reluctance to interfere with unsound lending and securitization practices.”

Jobless Claims in U.S. Jumped Reflecting Quarter-End Volatility
Bloomberg | April 14, 2011
More Americans unexpectedly filed first-time claims for unemployment insurance last week, reflecting greater-than-normal volatility at the end of the quarter.

Processing Delays Cut Foreclosure Activity by 27% in 1Q 2011: RealtyTrac
HousingWire | April 13, 2011
RealtyTrac
‘s March housing study reports a 15% decrease in foreclosure activity between the fourth quarter of 2010 and the first quarter of 2011, as well as a 27% decline compared to the same period a year ago. The online foreclosure property marketplace cites extended processing timelines as the main culprit for the drag.

10 Best and Worst States to Make a Living
Yahoo! Finance | April 12, 2011
The job market is finally picking up some steam, providing hope to long-suffering job seekers everywhere. But if you’re among the applying masses, you probably want to do more than just get a job.

From the National Association of Realtors®:

Rising Rents Make Rentals Less Appealing
Vacancy rates are dropping and rents are rising, which means those looking to rent will find it less affordable going forward, analysts say.  (Hello!  Higher rents and dropping vacancy rates sound like good news to me ~ Anthony)

Right-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet. Anthony Carollo 2007 EMAIL  

Right-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet. Join My List

Find me on:   Right-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet. LinkedIn   Right-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet.  Right-click here to download pictures. To help protect your privacy, Outlook prevented automatic download of this picture from the Internet. Facebook

Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

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